I have reached to point to start crown decreases on this ribbed hat. Round 1 pm, work 32 sts in 2x2 ribbing, pm, work 32 sts, pm, work 32 sts, pm, work 16 sts. This marks the beginning of all subsequent rounds.

I just finished the 16 stitches, but this leaves me with another 16 stitches before getting back to the first stitch marker since the pattern has a total of 128 stitches. I am confused. Any help?